1501 India Street 205, San Diego, California 92101, San Diego, - bed, bath

home-pic
ACTIVE$1,200,000
1501 India Street 205, San Diego, California 92101
2Beds
3Baths
1,800Sqft
Lot
Year Built
2002
Close
-
List price
$1.2M
Original List price
$1.55M
Price/Sqft
-
HOA
$900.7
Days on market
-
Sold On
-
MLS number
250001286SD
Home ConditionGood
Features
Good View:
View-

About this home

"PRICE IMPROVEMENT" ON RARE PURCHASE & INVESTMENT OPPORTUNITY IN LITTLE ITALY, this "Live/Work" condo offers a 2 bedroom condo with an additional 475 sq. ft. retail storefront that has an active commercial business at $3,000 mo. The residential condo offers primary occupancy, vacation home or a residential rental use at up to $4,000 month, in addition to a great long-term income at $3,000 mo. from the commercial store front of the condominium. There are only 5 live/work condos in this community in the heart of Little Italy, and Little Italy has one of the strongest business climates in downtown San Diego. Live/Work Condo in the heart of Little Italy offers 1,800 total sq. ft. total with approx. 1,325 sq. for residential condo and 475 sq. ft. for retail storefront. New tenant in retail storefront with a 5 year lease with over $100,000 invested in tenant improvements. Residential condo offers amazing living in Little Italy, steps away from main Piazza and San Diego's popular Farmers Market on Saturday!!

Nearby schools

5/10
Washington Elementary School
Public,K-50.2mi
5/10
Roosevelt International Middle School
Public,6-81.8mi
7/10
Point Loma High School
Public,9-123.7mi
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (265 Listings)
Beds22
50%
Baths32
89%
Square foot1,8001,046
94%
Lot Size00
Price$1.2M$679K
83%
Price per square foot$667$698
40%
Built year200210026003
26%
HOA$900.7$859
55%
Days on market295171
93%
Condition Rating
Good

The property was built in 2002, placing it within the 10-20 year range for a 'good' rating. The kitchen features stainless steel appliances and granite countertops, which are modern and well-maintained. The bathrooms appear clean and functional. While not fully renovated recently, the property appears to be in move-in ready condition with minimal wear and tear.
Pros & Cons

Pros

Income Potential: The property offers dual income streams from both the residential condo and the commercial storefront, providing a strong investment opportunity.
Prime Location: Located in the heart of Little Italy, the property benefits from a vibrant and desirable neighborhood with a strong business climate.
Live/Work Flexibility: The unique live/work setup allows for flexible usage, catering to both residential living and commercial operations.
New Commercial Tenant: The retail storefront has a new tenant with a 5-year lease and significant investment in tenant improvements, ensuring stable income.
Rental Versatility: The residential condo can be used for primary occupancy, vacation home, or residential rental, offering various income and lifestyle options.

Cons

Association Fees: The monthly association fee of $900.70 is relatively high, which could impact the overall profitability and affordability.
Original List Price Reduction: The price improvement from an original list price of $1,549,000 to $1,200,000 may indicate challenges in the market or perceived value.
Limited Live/Work Units: While the limited number of live/work condos (5 in the community) can be seen as a strength, it also means fewer comparable sales for valuation purposes.

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